Metallurgy news
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Russian foreign currency loans become a problem for European banksThe depreciation of the ruble creates difficulties in repaying loans taken in foreign currency. In Moscow, there were recent demonstrations in the branches of the bank. In some European countries, banks have already been expropriated to protect domestic borrowers. The exchange rate of the ruble…
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Alcoa signs multi-billion dollar deal with BoeingIn New York, Alcoa Inc. signed a long-term supply contract with Boeing. The contract provides for the supply of heavy-duty components to the aerospace company Boeing. The deal is one of the largest in a series of long-term contracts the company has entered into with a leading global aerospace…
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Metinvest plants in Mariupol increased production efficiencyOver the past year, at the metallurgical plants of Azovstal and Ilyich, which are part of the Metinvest Group, the implementation of workers' proposals for improving production allowed to save over UAH 140 million. The economic effect was achieved thanks to the mobilization of internal reserves…
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Experts have lowered the forecast for the growth of the US economyAnalysts are concerned that the US economy is performing much worse than the US government previously announced. Apparently, China is not the only one creating difficulties for the world economy. US industrial orders fell. Durable goods orders, including home appliances, fell 5.1 percent in…
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EU steel production declined in 2015Steel production in the EU-28 countries decreased by 1.8 percent compared to the previous year. In 2015, the annual production was 166.181 million tons, and in 2014 - 169.301 million tons. The latest figures released by the World Steel Association show that steel production in the EU-28 was 8.3…
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Russia and Saudi Arabia ready to curb oil productionA price war in the oil sector could force the most powerful opponents to abandon the fight for the global market. Russia and Saudi Arabia announced their readiness to curb the pace of funding. Prices for petroleum products rose significantly after the announcement of plans. Presumably, Saudi Arabia…
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ArcelorMittal idling plant in SpainThe world's leading steelmaker ArcelorMittal has decided to idle its Sestao steel plant in Spain indefinitely. The company cited falling steel prices as the main reason for its decision. The soaring imports of cheap steel products from China and rising electricity costs in the country were also…
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South American steel production declined 2.5 percent in 2015Crude steel production in the South American region declined slightly during 2015 to 43.906 million tonnes, down 2.5 percent from the 45.040 million tonnes produced in 2014. According to the latest figures released by the World Steel Association, South American steel production dropped…
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India Increases Steel Yield Amid Global Metallurgy RecessionIndia was the only major steel producer to record a positive trend in steel production and consumption last year. While global crude steel production declined 2.8 percent in 2015, for the first time since 2009, steel production in India rose 2.6 percent to 89.6 million tonnes during the year…
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U.S. steel production fell 10.5 percent in 2015North American production fell 8.6 percent during 2015 to 110.733 million tonnes for the year, up from 121.159 million tonnes in 2014, according to the latest data released by the World Steel Association. At the same time, in the USA, the largest producer of the region, the reduction in steel…
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